Azad India Mobility Ltd — Important, 26-09-2025: Company Update

Azad India Mobility's board has approved a 5-year lease deed for land, plant, and machinery in Bengaluru from Azad Coach Builders Private Limited. This strategic move secures a dedicated 8094 Sq Mtrs factory to manufacture and assemble electric bus components, enabling the production of fully functional electric buses. The company will pay a monthly rent of Rs. 0.255 Cr, with a 5% annual escalation. This lease is crucial for Azad India's expansion in the electric mobility sector, providing a world-class site with capacity for up to 1,500 units annually and bolstering its role in India's green mobility transformation. This related party transaction was executed at arm's length.